Bulgaria
Russia’s war in Ukraine has distorted global trade routes
Russia’s invasion of Ukraine and related sanctions have distorted trade routes across the Eurasian continent.
Bulgaria abandons January 2024 euro adoption target
Years of political instability have stymied Bulgaria's efforts to meet the criteria for euro adoption.
Dronamics raises $40mn in pre-series A funding for world's first cargo drone airline
Funding will help Bulgaria-based Dronamics to accelerate growth and expand its operations amid soaring demand for cargo drones.
More gloom ahead as EBRD cuts 2023 growth forecasts
The EBRD lowered its forecasts for more than half its 36 countries of operation, anticipating average growth of just 2.1% this year.
COMMENT: Recessions confirmed in Hungary and Czechia
Central and Eastern Europe has experienced a sharp downturn in GDP in the fourth quarter of 2022 figures, but while the worst of the economic decline has passed, the region is likely to stagnate this year.
COMMENT: Union recognition can be a tough battle in EU member states in Central and Eastern Europe
Multinationals typically try to find loopholes in employee rights for their operations in Eastern Europe, preventing wages converging with Western European levels.
UK and Eurozone inflation likely to remain high for several years due to the energy crisis
The surge in energy prices has significantly lifted headline inflation rates in the UK and Eurozone through the direct impact on household energy bills. However, there is a time lag to the feed through to consumer inflation.
US and UK sanction top Bulgarian politicians, businessmen for corruption
US Secretary of State Antony Blinken says Washington, in coordination with London, is taking action to counter systemic corruption in Bulgaria.
IMF: Charting globalization’s turn to 'slowbalization' after world financial crisis
The free flow of ideas, people, goods, services, and capital across national borders leads to greater economic integration. But globalization, the trend toward these things moving ever more freely between nations, has slowed in recent years.
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CEE management schools shrug off threat of distance-learning programmes
The COVID-19 pandemic pushed CEE students towards Western online MBA courses, but they are now returning to face-to-face studies, say the region's business school heads.
Europe’s gas tanks at record 69% full with just over one month of heating to go
Europe’s gas storage tanks are 68.8% full, a record high in the last decade, with a little more than one month left of the heating season.
bneGREEN: CEE countries need to invest in more solar and wind to break their Russia energy dependence
The energy crisis in Central and Eastern Europe has lost some of its bite after a mild winter and record LNG imports led to a slump in natural gas prices. The EU has made good progress in replacing Russian energy supplies.
NEMETHY: How the Battle for Ukraine may change Europe
More and more signs point to a new major Russian initiative to take Ukraine in the spring, including a possible attack on Kyiv. How could a major Russian offensive or a Russian victory in Ukraine challenge Europe?
COMMENT: The new Cold War will be different, and not only because of China
Mercantilism is also replacing globalisation, and the US has a declining interest in European affairs.
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National hero commemoration puts North Macedonia’s police on high alert
A strong presence of North Macedonia’s special police units, a tense atmosphere in Skopje and incidents on the Bulgarian border marked February 4, the 151th anniversary of the birth of Macedonian national hero Goce Delcev, claimed also by Bulgaria.
EU and G7 agree on Russian petroleum product price caps
The caps came into force on February 5, three months after a similar cap of $60 per barrel was introduced on Russian crude oil exports.
INTERVIEW: Helen Rodwell, head of CMS’ corporate practice in CEE
Dealmaking in Central Europe is set to rebound, says law firm's long-standing Prague managing partner, as new kinds of investor move into the region.
Bulgaria starts construction of gas link with Serbia
New pipeline with capacity of up to 1.8 bcm a year will help increase energy security and diversify gas supplies in the region.
Russian gas pipe flow dips to record low in January
Russian pipeline gas flowing to Europe dipped to a record low in January, down 30% compared with supplies in December, while experts warn that there could be significant further downside risk to the country’s deliveries.
Only Hungary and Russia heading for recession in 2023 as Emerging Europe shows its resilience
wiiw believes that most countries of the region have “probably already digested” most of the economic shock caused by the Ukraine war, provided Russia does not escalate the conflict further.
